COURAGE CAPITAL MANAGEMENT LLC

NASHVILLE, TN · CIK 1119376 · 13F filing filed 2026-05-14

SEC-registered investment adviser since 2004 · limited liability company

$70.6m reported value -2.4% vs Q4 2025

14positions

93.8%in top 10

1 new 2 added 0 reduced 0 sold out vs Q4 2025

Holdings, Q1 2026

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	INVESCO EXCH TRADED FD TR II SR LN ETF BKLN	BKLN	648,000	$13.2m18.73%	18.73%	Unchanged
2	FIDELITY WISE ORIGIN BITCOIN SHS FBTC	FBTC	170,865	$10.1m14.28%	14.28%	Unchanged
3	SPROTT PHYSICAL GOLD TR UNIT PHYS	PHYS	264,500	$9.4m13.27%	13.27%	Unchanged
4	CORECIVIC INC COM CXW	CXW	473,961	$9.0m12.69%	12.69%	Unchanged
5	GOLDMAN SACHS PHYSICAL GOLD UNIT AAAU	AAAU	184,254	$8.5m12.05%	12.05%	Unchanged
6	SPDR S&P 500 ETF TR TR UNIT SPY	SPY	7,171	$4.7m6.60%	6.60%	Added +350	+350 5.1%
7	META PLATFORMS INC CL A META	META	6,950	$4.0m5.63%	5.63%	Unchanged
8	ALPHABET INC CAP STK CL C GOOG	GOOG	10,500	$3.0m4.26%	4.26%	Unchanged
9	ISHARES GOLD TR ISHARES NEW IAU	IAU	28,000	$2.5m3.49%	3.49%	Unchanged
10	TESLA INC COM TSLA	TSLA	5,380	$2.0m2.83%	2.83%	Added +2.3k	+2,280 73.5%
11	PINNACLE FINL PARTNERS INC COM COM		21,565	$1.9m2.63%	2.63%	Unchanged
12	UNITEDHEALTH GROUP INC COM UNH	UNH	4,300	$1.2m1.65%	1.65%	Unchanged
13	AMAZON COM INC COM AMZN	AMZN	4,000	$833.0k1.18%	1.18%	New
14	JOHNSON & JOHNSON COM JNJ	JNJ	2,000	$489.0k0.69%	0.69%	Unchanged